Azerbaijan, Baku, Feb. 20 / Trend . N.Ismayilova /
The International Financial Corporation (IFC), a member of the World Bank Group, is promoting micro leasing tools to help leasing companies and microfinance institutions introduce micro leasing services.
This work is initiated to support development of small businesses and help address economic crisis in developing countries by providing additional opportunities to develop microfinance services, thus expanding opportunities for small enterprises to build up their initial capital or expand their business at a relatively lower economic cost.
To promote this initiative, IFC launched a series of two-day trainings on "Basics and specifics of micro leasing operations" for local microfinance organizations in Azerbaijan and Central Asia.
IFC delivered this training in Azerbaijan on Feb. 19-20 in corporation with Azerbaijan Microfinance Association.
"Introducing a new innovative product, such as micro leasing, is very important nowadays as it diversifies the existing portfolio of financial institutions and, moreover, provides a substantial support to small businesses which need to keep afloat during economic crisis period", outlined Jhale Hajiyeva, Chairperson of Azerbaijan Microfinance Association, "we are grateful to IFC experts and trainers for sharing their practical experience; it made this training a real success."
"We hope that our work would help financial organizations introduce micro leasing operations in respective countries which would significantly contribute to development of the micro and small businesses." Anastassiya Marina, IFC's Project Manager of Azerbaijan and Central Asia Leasing Facility advisory services project said
As a result of IFC efforts, more than 90 specialists have been trained in Azerbaijan, Kyrgyz Republic, Tajikistan, and Uzbekistan. This initiative, a part of the IFC Azerbaijan-Central Asia Leasing Facility Advisory Services Project, is funded by the Swiss State Secretariat for Economic Affairs.
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